Oil Sees A Reversal Today....Finally

Posted by
InTheMoneyStocks.com
Tuesday, May 12, 2009, 08:00PM ET

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Oil Sees A Reversal Today....FinallyOil has rallied higher over the last few weeks and months. Today, we saw a big spike on inventory reports in oil. However, after the spike sellers came in and have taken the USO (oil fund) down to the 200ma. This is solid support and could yield a small bounce. If this were to break, the markets may contniue to sell hard into the close.

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